Toronto-based crypto loaning firm Ledn has consented to get Canadian assets manager Arxnovum for an undisclosed cost, as indicated by an official statement.
The arrangement, as most would consider to close before the year’s end, will see Arxnovum become Ledn assets management, an asset management subsidiary of Ledn.
Ledn has been dynamic in the procurement market this year subsequent to offering to assume control over rival bank BlockFi in July.
Established in 2021, Arxnovum is controlled in Canada as an investment fund manager, portfolio manager, commodity trading manager and an absolved market seller.
“With this procurement, Ledn will turn into the principal advanced assets lender to offer yield store items under the excluded market dealer enrollment,” said Adam Reeds, Co-founder and CEO of Ledn.
“It will likewise permit us to offer greater investment chances to certify clients in business sectors that perceive Canadian protections guidelines, to build their digital assets holdings.”
In case you are not aware
- Ledn is a cryptocurrency platform with a diverse range of financial services catering to the crypto-economy. The company was founded by Adam Reeds and Mauricio di Bartolomeo in 2018 and raised a whopping $3.9 million just in one seed round with potential investors. Some of its prominent investors are CMT Digital, Coinbase Ventures, Hashed, Parafi Capital, amongst others.
- Ledn allows cryptocurrency investors to leverage interest on digital assets by either a savings account or loans. The three key Ledn offerings are Bitcoin and USDC Savings Account, Bitcoin-backed dollar loans, and B2X loan to double Bitcoin holdings.
- Arxnovum Capital is a venture capital fund manager focused on Canadian and US early stage ventures in the digital asset ecosystem from custody to trading platforms to services. Arxnovum Investments offers an institutional quality approach to assessing the risks of investing in cryptocurrencies like Bitcoin, and packages these strategies in familiar investment product structures, like private pools.
